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81. Paris Agreement Article 6 and Implications for Korea’s NDC Implementation

Author:
Jione Jung
Publication Date:
11-2023
Content Type:
Policy Brief
Institution:
Korea Institute for International Economic Policy (KIEP)
Abstract:
Korea plans to use voluntary cooperation under Article 6 of the Paris Agreement as a complementary measure to its domestic mitigation efforts. There is an urgent need to establish a plan to promote international emission reduction and to prepare specific implementation measures. The government needs to play a role in securing funding and providing support for international emissions reduction projects, as well as establishing laws and regulations to promote emissions reduction activities abroad.
Topic:
Climate Change, Law, Regulation, Carbon Emissions, and Paris Agreement
Political Geography:
Asia and South Korea

82. The Future of Standardized Sustainability Reporting

Author:
Tia Rebecca Driver, Amr ElAlfy, and Olaf Weber
Publication Date:
05-2023
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Regulators and stakeholders demand reliable, valid and comparable information about a company’s operations — and increasingly, not only its financial performance, but its non-financial impacts on society and the natural environment. Accordingly, regulators and reporting entities have developed sustainability reporting standards, but these are grounded in different reporting goals and sometimes in conflict. In this paper, Tia Rebecca Driver, Amr ElAlfy and Olaf Weber contribute to the current discussion of standardized sustainability reporting by analyzing the landscape of reporting frameworks and their governance bodies, which oversee and work on the standardization of sustainability reporting. They provide contextual background on the governance of sustainability reporting by comparing the prominent reporting frameworks to understand how they complement or conflict with one another. They then investigate the impact of mandatory reporting and materiality to understand how these concepts could influence the application and extensiveness of a composite reporting standard. Finally, the authors provide policy makers with recommendations that facilitate a standardized reporting approach that centres on sustainable development.
Topic:
Governance, Regulation, Sustainability, Standards, and Reporting
Political Geography:
Global Focus

83. Canada Needs Its “New Approach” to Streamline Digital Rulemaking

Author:
Michel Girard
Publication Date:
07-2023
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Canada’s current approach to rulemaking is not keeping pace with the deployment of new digital technologies. This paper proposes to modernize the Statutory Instruments Act to bridge that gap, suggesting that mandatory standards, technical specifications and conformity assessment programs should be recognized as statutory instruments alongside regulations. This borrows from the European Union’s “New Approach” established in 1985, whereby regulators can request that EU standards bodies develop mandatory standards as a compliance mechanism to laws, even while legislation is being drafted. Streamlining rulemaking is essential to help manage the harms associated with digital technologies as soon as possible after they are commercialized.
Topic:
Governance, European Union, Regulation, Digital Policy, Emerging Technology, and Standards
Political Geography:
Canada and North America

84. Addressing the Liability Gap in AI Accidents

Author:
Amrita Vasudevan
Publication Date:
07-2023
Content Type:
Policy Brief
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
When a device controlled by artificial intelligence (AI) is involved in an accident causing bodily harm, who is at fault? The manufacturer, software developer or the user? With so many people involved in the design and production of AI-controlled technology (known as the “problem of many hands”), liability can be difficult to attribute, leaving victims and their families without recourse. As AI becomes increasingly entrenched in our daily lives, mishaps will become more common. This policy brief looks at the challenges in determining who is at fault when AI goes awry and how to address the liability gap.
Topic:
Regulation, Artificial Intelligence, Digital Policy, Emerging Technology, and Liability
Political Geography:
Global Focus

85. AI-Related Risk: The Merits of an ESG-Based Approach to Oversight

Author:
Mardi Witzel and Niraj Bhargava
Publication Date:
08-2023
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Artificial intelligence (AI) technology has been found to generate value for many firms; however, it also has unintended and undesirable consequences. The reality of AI-related risk has led to the development of AI governance frameworks and calls for greater oversight of the use of AI. The merits of an ESG (environmental, social, governance)-based approach to oversight of AI-related risk are considered in this paper, with a focus on the current trajectory of international sustainability standards development. Despite their differences, AI governance and ESG reporting both seek to address risk in the broadest sense, with proactive and transparent approaches to its management and mitigation. A preliminary set of recommendations for incorporating material AI-related risk into ESG reporting, covering both general or context-setting disclosures and industry-specific disclosures, is provided.
Topic:
Regulation, Artificial Intelligence, Industry, Oversight, and Emerging Technology
Political Geography:
Global Focus

86. CBDCs and Their Implications for the International Monetary System

Author:
Robert Fay and Angelo Federico Arcelli
Publication Date:
11-2023
Content Type:
Special Report
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
Central bank digital currencies (CBDCs) promise to revolutionize the way the world uses money, but there are questions around the impacts on monetary regulation and financial markets that still need to be answered. Unlike other types of digital currencies, such as cryptocurrencies and stablecoins, CBDCs are considered more trustworthy as a national currency because they are issued by national banks. But moving from traditional paper- and coin-based currencies to a digital platform raises many questions around monetary and financial stability, as well as governance (for example, related to privacy, competition, consumer protection and so on) that are currently being explored. Co-hosted by the Centre for International Governance Innovation, the Fondazione Mario Arcelli ETS, Istituto di Studi per l’Economia Applicata and UniCredit Group, the conference on “Central Bank Digital Currencies (CBDC) and Their Implications for the International Monetary System” looked at the possible implications of CBDCs on monetary policy and financial markets.
Topic:
Markets, Monetary Policy, Regulation, and Central Bank Digital Currencies (CBDCs)
Political Geography:
Global Focus

87. The Frontier Revisited: Examining the Rise of New Space Actors, the LEO Economy, and Implications for the Space Debris Problem

Author:
Alexandra Chronopoulos
Publication Date:
05-2023
Content Type:
Journal Article
Journal:
Journal of Public and International Affairs (JPIA)
Institution:
School of Public and International Affairs (SPIA), Princeton University
Abstract:
Terrestrial activity increasingly depends upon the structural and functional integrity of the satellites currently threatened by debris in low-Earth orbit (LEO). From everyday civilian applications, including telecommunications, weather forecasts, and online banking, to military applications including intelligence, imaging, and surveillance and reconnaissance (ISR), to developmental applications including the provision of Internet to remote geographic locations, LEO is a vital domain for the provision of services upon which we all depend. As res communis territory, outer space is no stranger to the tragedy of the commons market failure. As the LEO economy continues to grow, the proliferation of new actors, smaller and cheaper satellites, and decreasing launch costs all conspire to undermine the provision of the global public good that is a sustainable debris-free orbit.
Topic:
Regulation, Economy, Space Debris, and Low-Earth Orbit (LEO)
Political Geography:
Space

88. China’s AI Regulations and How They Get Made

Author:
Matt Sheehan
Publication Date:
07-2023
Content Type:
Working Paper
Institution:
Carnegie Endowment for International Peace
Abstract:
China is in the midst of rolling out some of the world’s earliest and most detailed regulations governing artificial intelligence (AI). These include measures governing recommendation algorithms—the most omnipresent form of AI deployed on the internet—as well as new rules for synthetically generated images and chatbots in the mold of ChatGPT. China’s emerging AI governance framework will reshape how the technology is built and deployed within China and internationally, impacting both Chinese technology exports and global AI research networks. But in the West, China’s regulations are often dismissed as irrelevant or seen purely through the lens of a geopolitical competition to write the rules for AI. Instead, these regulations deserve careful study on how they will affect China’s AI trajectory and what they can teach policymakers around the world about regulating the technology. Even if countries fundamentally disagree on the specific content of a regulation, they can still learn from each other when it comes to the underlying structures and technical feasibility of different regulatory approaches. In this series of three papers, I will attempt to reverse engineer Chinese AI governance. I break down the regulations into their component parts—the terminology, key concepts, and specific requirements—and then trace those components to their roots, revealing how Chinese academics, bureaucrats, and journalists shaped the regulations. In doing so, we have built a conceptual model of how China makes AI governance policy, one that can be used to project the future trajectory of Chinese AI governance (see figure 1). China’s three most concrete and impactful regulations on algorithms and AI are its 2021 regulation on recommendation algorithms, the 2022 rules for deep synthesis (synthetically generated content), and the 2023 draft rules on generative AI. Information control is a central goal of all three measures, but they also contain many other notable provisions. The rules for recommendation algorithms bar excessive price discrimination and protect the rights of workers subject to algorithmic scheduling. The deep synthesis regulation requires conspicuous labels be placed on synthetically generated content. And the draft generative AI regulation requires both the training data and model outputs to be “true and accurate,” a potentially insurmountable hurdle for AI chatbots to clear. All three regulations require developers to make a filing to China’s algorithm registry, a newly built government repository that gathers information on how algorithms are trained, as well as requiring them to pass a security self-assessment. Structurally, the regulations hold lessons for policymakers abroad. By rolling out a series of more targeted AI regulations, Chinese regulators are steadily building up their bureaucratic know-how and regulatory capacity. Reusable regulatory tools like the algorithm registry can act as regulatory scaffolding that can ease the construction of each successive regulation, a particularly useful step as China prepares to draft a national AI law in the years ahead. Examining the roots of these regulations also grants insight into the key intellectual and bureaucratic players shaping Chinese AI governance. The Cyberspace Administration of China (CAC) is the clear bureaucratic leader in governance to date, but that position may grow more tenuous as the focus of regulation moves beyond the CAC’s core competency of online content controls. The Ministry of Science and Technology is another key player, one that may see its profile rise due to recent government restructuring and increased focus on regulating underlying AI research. Feeding into this bureaucratic rulemaking are several think tanks and scholars, notably the China Academy for Information Communications Technology and Tsinghua University’s Institute for AI International Governance. In the years ahead, China will continue rolling out targeted AI regulations and laying the groundwork for a capstone national AI law. Any country, company, or institution that hopes to compete against, cooperate with, or simply understand China’s AI ecosystem must examine these moves closely. The subsequent papers in this series will dig into the details of these regulations and how they came about, deepening understanding of Chinese AI governance to date and giving a preview of what is likely coming around the bend.
Topic:
Foreign Policy, Science and Technology, Cybersecurity, Regulation, and Artificial Intelligence
Political Geography:
China and Asia

89. Reimagining Africa’s role in revitalizing the global economy

Author:
Amin Mohseni-Cheraghlou
Publication Date:
10-2023
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
The world economy now finds itself at a critical juncture, facing a series of extraordinary setbacks that have pushed down growth. Reigniting growth requires a unique combination of targeted policies, robust international cooperation, and a renewed look at the global economy, with a particular focus on Africa. Due to its burgeoning and youthful population, abundant natural resources, and a strategic geographical location that can facilitate global trade, Africa can play a major role in—and should be front and center of—any renewed efforts for revitalizing the global economy. A decade-long robust, inclusive, and green growth in Africa will not only move hundreds of millions living in the continent out of poverty but will also accelerate a global rebound and recovery. However, for this to materialize, Africa needs substantial investments in its failing and inadequate physical and social infrastructure. With access to basic infrastructure, alongside efficient institutions as well as its young population, massive natural endowments, and strategic location Africa can seize its economic potential and act as an engine of growth for the global economy for decades to come. Therefore, it is crucial to support Africa to unleash its immense economic potential, through massive and focused investments in the continent’s human capital and its physical and social infrastructure.
Topic:
Development, International Organization, Reform, European Union, Regulation, Finance, Economy, and Economic Growth
Political Geography:
Africa, China, Europe, and United States of America

90. Online Platform Regulation and Investment Attractiveness: A Look at the EU, the UK and Impacts on Small Open Economies

Author:
Matthias Bauer, Vanika Sharma, and Oscar du Roy
Publication Date:
08-2023
Content Type:
Policy Brief
Institution:
European Centre for International Political Economy (ECIPE)
Abstract:
Small trade- and investment-oriented economies like the United Kingdom (UK) should carefully consider whether to regulate online platform services based on presumptions rather than evidence that consumers are being harmed. Flimsily enforced platform regulation can have a chilling effect on investments in business expansion and innovation, particularly in technology-adopting industries. Several countries around the world are designing new competition policies that specifically target large digital platforms. The theory behind these policies is grey. There are political concerns about the impact of various aspects of platforms on society, especially regarding the collection and safety of data. However, practices that harm consumers – traditionally a key motivation of competition enforcement – are very rare. Indeed, the success stories of large tech platforms demonstrate that they offer strong benefits and conveniences to millions of business users across a wide range of industries. Marginal costs of supply, high-quality services, continuous technological advancements, and platforms’ ability to drive productivity growth have enabled especially small businesses to thrive and compete in domestic and international markets. Against this background, it is highly questionable why some governments, with the backing of power-seeking competition regulators, are aiming to legally interfere in services provided by large technology companies. An important consequence that has so far received little attention from policymakers and competition authorities is the impact of platform regulation on a country’s investment attractiveness. It is obvious that bans and restrictions on corporate conduct cause regulated companies to abstain from investments and establish new business elsewhere. What is less clear is the effect of regulation on investments by companies that extensively adopt platform services to reduce costs, speed-up innovation, and expand market opportunities. In this policy brief, we argue that access to integrated and internationally traded platform services is increasingly important for a country’s investment attractiveness, even more so for smaller countries. Access to advanced technologies and the utilisation of network effects create a virtuous cycle of economic opportunities, investments, value creation, and trade. Discretionary and presumption-based competition enforcement, as adopted in the EU, risks hurting smaller countries in particular. The EU has chosen the path of proscriptive and protective policymaking with the DMA to achieve industrial and trade policy goals rather than defending competition in the Single Market. UK competition policy risks being driven by institutional interests and ideological considerations, which could potentially lead to the adoption of a regulatory landscape that is even more restrictive than that of the EU, undermining Britain’s ambitions for economic and innovation leadership.
Topic:
Markets, European Union, Regulation, Economy, Investment, Trade, and Online Platforms
Political Geography:
United Kingdom and Europe